Hints and Tips
We know it's tough trying to grow a business - we've been there - and made more than a few mistakes along the way. But we learned from our mistakes and picked up lots of hints and tips about how to grow a business rapidly, profitably and sustainably!
We've built as many hints and tips as possible into our Business Growth Mapper to help SME business owners like you. Here's a small selection:
The best businesses know their customers, what they want, how much they will pay and how they want to do business. Here are our top tips on how to ask for customer feedback
Only 30% of UK businesses ask their customers for feedback - and only 10% of those actually make any changes due to the feedback. Even worse, only 5% tell their customers why they have changed. You can become a leading business quickly if you ask for, act on and thank customers for their feedback. There are more hints and tips on getting customer feedback in the Business Growth Mapper.
When you start a business, you focus on customer acquisition - but most businesses carry on doing that. As you grow, customer retention becomes more and more important. If you don't get it right, your business won't grow quickly and you will feel as though you are on a treadmill! Here are some of our top tips on customer retention:
Retaining customers may not seem as "sexy" as making new sales BUT you have a 70% chance of selling again to an existing customer against a 20% chance of selling to a new customer, AND returning customers typically spend 50% more than new customers, so focusing on retention makes lots of business sense.
You can use our Business Growth Mapper to find if there are any holes in your customer retention policies and processes - and get the right advice on how to fix them:
Never take customer loyalty for granted - 96% of customers will not tell you if they are unhappy. They just move to a competitor quietly! If you issue loyalty cards, try this top tip:
We hope you found these hints and tips useful - if you did, why not try our Business Growth Mapper? If you didn't, let us know why and we'll fix it!